Member Info for Jimmy_Stocks

Thanks Rootin.

So him and Ranjit will receive £2.2m for an art business that had been going for 10+ years, that had made much how much profit in those 10 years I wonder. It looked like a small art fair business to me, nowhere near a £4m valuation. What would have clearly bumped up the valuation was the $500k recurring license fee from Jason Lee.

We've had no confirmation on whether that $500k has come in or not. If it hasn't, then that is material news that should have been RNS'd. And should also result in them waivering any further monies and shares owed for the transaction.

Tintin if he can back up the valuation with actual revenues matching anywhere close to the projected numbers he gave the accountancy firm, then fair enough. But if not, then it all needs to be looked at with a magnifying glass, unless he is willing to do the fair thing and write it off.

Biggest outgoings for BL were shipping and storage I believe. They won't be able to outsource either of those.

Why is nobody else questioning this StART debt/acquisition? Unless the accounts show revenues that match the big numbers he gave to this accountancy firm to value it at £4m+, then there should be uproar and he should do the honourable thing and wipe the debt off, all things considered. And if not, then there needs to be collective action.

Waited how many months, for that?

StART £4m of shareholders money and we get this update...StART Art Global

'The recent StART Art Fair at the Saatchi Gallery took place as usual and discussions are underway for the relaunch of StART Art Fair. An announcement is expected next month.'

Why doesn't he sell StART for the £4m that we brought it for. A top 4 accountancy firm valued it at that. Or sell it for £3m, on sale 25% off, surely there will be a queue of people. Or maybe Ranjit will buy his shares back that he took from the sale.

What a mess. Desperately trying to salvage it when he should be selling it all. And trying to burden some of these partners, like SBS, with this cancelled debt from London, instead of taking the hit 100%.

PrivateRyan - that is the likely scenario imo. London not going ahead clearly threw a spanner in the works with regards to the ongoing concern of the company, which probably reset all timelines when it came to accounts submission. Again though, it points to poor planning, to be so heavily reliant on one event going ahead. Flying by the seat of their pants springs to mind...a recurring theme here...

Suedee - I am guessing but I don't think Sarah has any clout at all and follows her boss' instruction. Like 99% of employed people, tbf.

sarah said to me via email on 5th sept re the accounts - 'we are getting there - hope to get these out soon almost there' and here we are, 80 days later... so...there is either a problem with the accounts or sarah was just telling me what i wanted to hear to pacify. a total **** show throughout

Have to admit, I thought we would hear this month. Feels like it will be a Monday RNS, so if nothing Monday then looking very likely that we're going into the final month. Think I'll be looking towards getting in touch with this insolvency case if nothing on Monday.

And to think he was telling people to buy before the suspension. I can't get into the mentality as to why you would do that..

Simple Yes 3 months, 2 months tamato tomato. And I agree with everything you've said and thanks for clarifying the difference between litigation and the Insolvency Service.

Whilst the Insolvency Service isn't hitting the nuke button, there is a potential opportunity cost to this route, which is to rub up the wrong way the only person who can turn this around. It might be the right thing to do, I honestly don't know, but it could cause problems to that top trump card I mentioned, which is some kind of ROI for shareholders.

He didn't bank the money though did he. It did allow the blue chip investor to exit some of its position more easily though...

If there is a case for litigation Hughes, then that won't have an expiry date. If that is pursued in 3 months time if they delist or now, doesn't effect the case.

I believe we'll come out of suspension suedee. He was telling people to buy before suspension. I can't believe even DC would have the brass neck to do that to shareholders, if they were delisting. That would leave a very very VERY sour (and angry) taste in peoples mouths.

I am in full agreement with Rootin, have said it all along. We should wait to see what their plan is to turn around this mess, and if not happy once you see the plan, then by all means go down litigation route, but not before.

What top trumps everything in this whole mess is shareholders trying to get a ROI here, and hitting the nuclear button at this stage goes against that IMO.

We could have a scenario where they release accounts, company could be profitable in 2022 and then they may have a plan for 2024 to turn things around.

We could also have a scenario where they delist and if so, then I would be full steam ahead with backing any litigation aswell. But not before and not when there is still something to salvage out of this.

My guess is they had competition clauses, that have now expired. Either way, with probably hundreds of people with money tied up in this mess, there are bigger fish to fry.

Another Monday is upon us. Will tomorrow be the day…

Or are you inferring DC is involved in this other venture?

We are in the dark aren't we. With only DC controlling the light switch. My last investment on AIM that is for sure.

PR - it is a disgrace, and likewise I had plans for some of the money. He is going to have a whole load of pished off people if he doesn't turn this around.

Guzzler - no I wasn't aware. Does this mean no more sets being built? If so, good, as the business hasn't been profitable for how many years, if ever. And it is the only tangible asset on the balance sheet. Sell sell sell. Given the groups track record of managing things, a competent buyer is surely out there who would fancy making a better stiff at extracting value from these assets.

My point being guzzlers post inferred this was a new development.... that DC was going to mention to Euston in a recent conversation that his 'master builder' had left, which happened at the very least in Jan 2022.

PrivateRyan - what are you thinking? I hope not that he is going to buy this company aswell. He needs to sell, not buy. Can't run a bath

That company was incorporated nearly 2 years ago. I don’t think we need negative ‘old news’, think there is enough recent negative news to be tiding us over.

I sound like a broken record but the StART transaction needs to be looked at. There needs to be an answer to the question, 'what % of total revenue for StART was the Jason Lee $500k recurring revenue + other payments from Jason Lee. And has that revenue materalised?'

If it hasn't, we shareholders will have purchased a tiny art business for £4m.

And yes, I would be happy to get 2p as it stands now. But things (and expectations) can change very quickly on the AIM circus. It's the hope that kills you eh

Tintin as far as I can see, you are wanting to hit the nuke button. I just don't think we are there yet, lets see what they come out with. This isn't unsalvageable yet imo. And we've waited this long, can't see it being too long to wait now.

And depending on what DC's plan is, I'll possibly be following simples advice, as I am not going to just sit back and let somebody take my money, if that is what transpires in the coming months.